Racing Insurance

[flaming]

Is anyone else struggling this year with racing insurance?

The renewal (with an ownership change but no actual change to the people sailing the boat....) came in at 3 times last year.
At least 1 company has completely refused to quote for round the cans racing with an experienced skipper. Others are in the "wtf" level of quote...

And does anyone have any recommendations?

 

[The Q]

Not knowing where you are can limit recommendations.

In my case I'm on the broads, so I went to Allan Boswell group who are brokers who specialise in broads insurance. Very much cheaper than anyone else.

Anyway my recommendation is go to a local broker, they know who will insure in your local area.

 

[awol]

I'm with Pantaenius who cover the small amount of racing I do. I've been with them 18 years and have, of course, sought quotes elsewhere but have never found another broker who offers the cover (I think) I need or is so amenable (or amiable) to discussing that cover and making the adjustments I ask, so far without adjusting the premiums. As to cost - ~5% hike this year, still costing more than the cruising norm but in the overall scheme of sailing a mere bagatelle - actually about 8% of my annual spend. As a bonus this year it comes with an unrequested and un-needed increase of the cruising area to include the Baltic and down to Morocco (but just missing the Canaries).

 

[Chiara’s slave]

My insurance doesn’t cover the rig whilst racing. Other than that, it’s all good. Got mine via dinghyinsurance.com, 12 months in commission, it’s very reasonable given my boat is ‘off the wall’ albeit a production boat.

 

[Cariadco]

My insurance doesn’t cover the rig whilst racing. Other than that, it’s all good. Got mine via dinghyinsurance.com, 12 months in commission, it’s very reasonable given my boat is ‘off the wall’ albeit a production boat.

Mine' the same, but with Yachtline. I did ask what the rig cover would cost, and it was 120% Premium loading.

 

[bobgarrett]

Bit of an issue this year as the broker proposed a change of underwriter which then got into the type of racing and how many races per year but sorted to my satisfaction in the end with reasonable increase. Insurers are Topsail and got CA discount too.

 

[flaming]

Thanks all, some more names to consider!

 

[olly_love]

We are with Stonaways, They seem to be a reasonable price but you are right the big issue we have found with others is the rig.

we have a custom made made ( not your average selden) and then 3DI sails with rod rigging, drop that and its hard to justify replacement!

 

[Chiara’s slave]

We are with Stonaways, They seem to be a reasonable price but you are right the big issue we have found with others is the rig.

we have a custom made made ( not your average selden) and then 3DI sails with rod rigging, drop that and its hard to justify replacement!

Our mast is carbon from the factory. Christ knows how much it is as a spare. Then theres about 2 grands worth of dyform diamond wires and custom stainless spreaders.

 

[Birdseye]

Is anyone else struggling this year with racing insurance?

The renewal (with an ownership change but no actual change to the people sailing the boat....) came in at 3 times last year.
At least 1 company has completely refused to quote for round the cans racing with an experienced skipper. Others are in the "wtf" level of quote...

And does anyone have any recommendations?

Had no issue at all with club racing. Used Knox Johnson or whatever they now call it but I have had racing cover continuously for 30 years with no claims. Could be your issue is new owner.

But then I have never had a booat with exotic mast or rigging.

 

[flaming]

Had no issue at all with club racing. Used Knox Johnson or whatever they now call it but I have had racing cover continuously for 30 years with no claims. Could be your issue is new owner.

But then I have never had a booat with exotic mast or rigging.

I does seem that the new owner is the issue. Which is a little frustrating when that new owner has been the one on the helm for the last 15 years....

 

[Judders]

I does seem that the new owner is the issue. Which is a little frustrating when that new owner has been the one on the helm for the last 15 years....

Ah that sort of figures. Especially if you are using a more robotic firm. If you have bought the boat from the owner and he has 25% NCB and you have no ownership history then you get a "computer says no" type scenario which I am afraid is creeping in a bit more. However there are firms there who are run by human beings. Olly Love has recomended a good one above.

 

[The Q]

By chance just had this year's quote. For fully comp including racing, whole boat including rig, for inshore and inland waters, UK and Europe excess £50,.
Cost £74, down from £78 past year.
Mind you I only have a little keel boat...

 

[michael_w]

Rig cover is a problem for cruising boats too. When I was researching policies for my new boat , I was surprised that some well-known policies don't cover the rig at all. Others only if the rig was under 10 years old, or the rig was damaged by another insured peril. The best I found had a 25% excess. 25% excess used to be the norm for 'racing risks'; when cruising the rig used to be fully covered.

 

[Daydream believer]

Our broker who deals with my Squib -Comfy Chair- has sold out to GJW & they became a nuisance trying to insure it.
To cut a long story short I found this chap
I would recommend his honest approach re some of the terms of the policies & understanding of racing etc.
He deals with other craft as well
David Lloyd
Tel 02392 754000 email info@dinghyinsurance.com

 

[doris]

Is anyone else struggling this year with racing insurance?

The renewal (with an ownership change but no actual change to the people sailing the boat....) came in at 3 times last year.
At least 1 company has completely refused to quote for round the cans racing with an experienced skipper. Others are in the "wtf" level of quote...

And does anyone have any recommendations?

Wow. Am just about to get a boat surveyed so checked out insurance. I see what you mean, just mention 'racing' and the underwriters freak out.
Some guys have even stopped short handed racing due to insurance problems. I wonder what suddenly made things change. I always thought my insurance a few years ago was very cheap for what was covered, now it's swung the other way.

 

[flaming]

Wow. Am just about to get a boat surveyed so checked out insurance. I see what you mean, just mention 'racing' and the underwriters freak out.
Some guys have even stopped short handed racing due to insurance problems. I wonder what suddenly made things change. I always thought my insurance a few years ago was very cheap for what was covered, now it's swung the other way.

Exciting news... what's the boat?

Interestingly I've now had a couple of "we've had another look" emails. Have a couple of more acceptable quotes, and thanks to those who have replied or PM'd, which have been the source of those quotes.

 

[doris]

Exciting news... what's the boat?

Interestingly I've now had a couple of "we've had another look" emails. Have a couple of more acceptable quotes, and thanks to those who have replied or PM'd, which have been the source of those quotes.

It’s a Jeanneau 409. V comfy but only quick down hill. Will have v big Asym.
Not sure whether to do any races at all. As you have found out, even shopping around its now expensive and lots of exclusions eg. Rig cover etc. Maybe just play this year and rethink next year.

 

[awol]

This is a big problem. Continuing with existing insured and boat seems to be ok but I've heard of several would-be racers, including returnees after Covid who simplified their insurance during the plague, who have been quoted large (+100% in one case) to add racing cover. Moving insurers adds the cost of a survey, unless there is already a recent one.
Attracting cruisers back, or for the 1st time, to club racing is difficult enough without this.

 

[oldbloke]

Have you tried Noble Marine?. More famous for dinghy insurance but they do yachts. Always been very helpful and know all about the perils and complications of racing.